Medicalchain Review – Legit ICO or Another Scam?

Looking for a Medicalchain Review? You’re in the right place. Today we are looking at Medicalchain ICO and we are going to share our full review. If you’re wondering whether it’s a scam or a legit company keep reading as we will reveal everything. Also we are not an affiliates for Medicalchain Review so you can expect and honest review and not just another sales pitch like other reviews do!

Medicalchain Review

Though you may not care too much about it, unsecured medical records are often hacked and sold on the darknet. It is done for identity theft. Surprisingly, medical malpractice is the 3rd leading cause of death in the United States. Most medical errors aren’t due to bad doctors, a study from Johns Hopkins notes. In fact it is errors from systemic problems, including badly coordinated care. These issues lay at the root of medicine and information technology. It has the potential to adversely affect everyone. The medical field lacks behind regarding data management and the demand for solutions is high till date. The Medicalchain ICO team’s platform tackles these problems and also makes way for the growth of further tech-based solutions.

Value Proposition of Medicalchain ICO

Block chain technology is used by Medicalchain to combine an individual’s entire electronic health records into one version of the user’s data. Users can provide conditional access to varied healthcare actors like laboratories, doctors, pharmacists, hospitals, and insurers. It can allow them to interact with the Medicalchain data as they see fit. Medicalchain also offers the infrastructure for digital health applications and services making use of smart contracts, blockchain technology, and cryptocurrency. They are to be built on the platform that is powered by user health data. To see how ICO's work, we did a review here that will help for sure!

Recording health data on the blockchain has a number of advantages to. It is great for the overall well being of the user. The platform of Medicalchain is made accessible within any browser application in order that all doctors treating a patient can access to one updatable record. Medicalchain eliminates the need for manual transfers of information. It also removes the recurrent problem of malpractice that result. At present bad decision making that paves the path for negative health outcomes is common as complete medical records are frequently not accessible to the practicing clinician. Providing access to a single record to all doctors solves this issue. Next, transferring records to a distributed ledger tackles the matter of identity theft. Providing power over who has access to their records to the user and for how long provides added security to an extremely vulnerable personal asset. It eliminates the risk posed by data breaches.

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However, the Medicalchain ICO goes beyond the systemic improvements suggested by decentralizing medical records. The Medicalchain data can be utilized for many purposes once it is secured. It would otherwise be impossible. Medicalchain also aim to build a platform for dApps that are related to healthcare beyond the distributed ledger. The team is building a telemedicine application. It permits consultations with doctors through video call. The user controls the degree to which the doctor is granted access to medical records. Medicalchain aims to meet a requirement with a product that influence the user to share data enabling more effective and cost reducing medical consultations as the Telemedicine market is predicted to continue its upward growth trajectory.

Medicalchain will also commercialize user medical records on their health data marketplace to influence another benefit of blockchain security. Users can sell their data voluntarily to parties interested in using it for optional purposes like medical research. With the user’s medical information safeguarded on the platform, they can benefit from the increased demand by research institutions and companies for access to such data.

As claimed by Medicalchain, data can be made anonymous prior to sale to interested entities. It will eliminate any chance of misuse.

Essential to the Medicalchain ecosystem is the MedToken. It is an ERC-20 token. The only way of value exchange on the Medicalchain platform is MedTokens. By exchanging tokens directly with doctors and healthcare providers users will access services such as the Telemedicine app. research institutes and pharmaceutical companies will also use the tokens to reward users that wish to share data. Prospective dApps put up on the Medchain platform will use MedToken as the exchange unit. Some of the Medicalchain transactions on the Telemedicine app will be gathered by Medicalchain to fund the platform.

Medicalchain ICO Team

The Medicalchain team is quite extensive. In their respective industries they’ve covered all the bases with firmly established figures. Dr. Abdullah Albeyatti, Cofounder and CEO, is a trained surgeon. He completed graduation from Imperial College London. He has practiced medicine for the last 4 years. He interest grew in how technology could improve the health sector in his time of treating patients, having developed his own site to aid doctors prepare discharge summaries fast.

Also, the cofounder of Medicalchain is Mo Tayeb who has fourteen years of experience in serving as the director of many companies. He has worked in diverse he industries including tech, the financial sector, and of late, agriculture.

The Lead Medical Officer for Medicalchain is Philip Xu. He was a medical doctor for seven years. He also worked as the Editor-in-Chief of Elsevier UK’s Order Set Platform. It is an IT solution for medical practitioners that can quickly issue care orders to staff as per the specific diagnosis of the patient.

Medicalchain’s Healthcare Informatics Manager is David Ebbit. David was highly involved in the IT sector and has many lead roles behind him.

The adviser is Dr. Robert Miller, vice chairman at Mayo Clinic that is a popular non-profit medical practice and research group.

Strengths and Opportunities of Medicalchain ICO

Medicalchain’s objectives lie at the root of tech, business, medicine, and law. A wide diversity of expertise is essential to tackle the challenges ahead for such a large project. The team Medicalchain ICO fits perfectly. Their team includes business people, medical professionals, programmers, cyber security experts, IT managers, and legal advisors.

The Medicalchain ICO is undertaking 3 pressing issues in the medical industry. Each side of the project tackles a separate requirement linked to healthcare informatics. Thus the project has boosted the odds of platform utilization and adoption. Developers will be able to build more applications on the platform as the API is released. It will increase the usefulness and motivation for adoption.

Medicalchain’s Weaknesses and Threats

The data ledger and first dApps have been built by Medicalchain to openly address huge demands in the medical industry. The way in which a user base will be built is not entirely clear though that demand is there. Partnerships are a vital means by which new companies can profit from the power of an established institution or business for introducing any type of mass consumer product. If there were news of any partnerships for pilot project execution of the platform, the Medicalchain ICO would garner more confidence.

Though as per information, the MVP is finished, any demonstration would increase confidence in the project. A higher level of uncertainty around the project is made by missing indicators of progress and product development.

Medicalchain ICO – The Verdict

Medicalchain provides a great proposal in a highly complex industry for mitigating deficiencies. The team planning to realize the vision is superb. And it’s obvious the community feels the same from the support they have already gathered within the crypto space. Still, some crucial indicators just aren’t there yet with the ICO around the corner, so lets see how they handle things as they progress.

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